Reported Earnings • Jul 17
Second quarter 2026 earnings released: EPS: US$0.033 (vs US$0.29 in 2Q 2025) Second quarter 2026 results: EPS: US$0.033 (down from US$0.29 in 2Q 2025). Revenue: US$7.85m (up 24% from 2Q 2025). Net income: US$173.5k (down 88% from 2Q 2025). Profit margin: 2.2% (down from 23% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Board Change • May 21
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. Independent Director Randy Ramsey was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 17
Art's-Way Manufacturing Co., Inc., Annual General Meeting, Apr 23, 2025 Art's-Way Manufacturing Co., Inc., Annual General Meeting, Apr 23, 2025. Location: 5556 highway 9, iowa,50514-0288, armstrong United States New Risk • Dec 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 32% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (32% average weekly change). Minor Risk Market cap is less than US$100m (€11.8m market cap, or US$12.3m). Reported Earnings • Oct 11
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: US$5.88m (down 28% from 3Q 2023). Net income: US$2.2k (down 99% from 3Q 2023). Profit margin: 0% (down from 3.0% in 3Q 2023). The decrease in margin was driven by lower revenue. Announcement • Oct 06
Art's-Way Manufacturing Co., Inc. Announces President Changes Art's-Way Manufacturing Co., Inc. announced that effective October 1, 2024 the company reached a mutual separation agreement with President David King. Current Chairman of the Board Marc McConnell will serve as President moving forward and the Company will realize a net overhead reduction. Marc has served on Art's Way's Board of Directors since 2001, served as Vice Chairman from January 2008 to April 2015 and has since served as Art's Way's Chairman of the Board. Marc's experience in the farm equipment manufacturing and finance industries, longevity on the Company's Board, and passion for the Company, its employees, and dealers alike make Marc well suited to step in to guide the Company moving forward. New Risk • Aug 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 14% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risk Market cap is less than US$100m (€9.61m market cap, or US$10.8m). Reported Earnings • Jul 14
Second quarter 2024 earnings released: US$0.001 loss per share (vs US$0.066 profit in 2Q 2023) Second quarter 2024 results: US$0.001 loss per share (down from US$0.066 profit in 2Q 2023). Revenue: US$6.73m (down 18% from 2Q 2023). Net loss: US$4.7k (down 101% from profit in 2Q 2023). New Risk • Apr 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risk Market cap is less than US$100m (€9.52m market cap, or US$10.1m). New Risk • Apr 18
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.35m (US$9.98m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (€9.35m market cap, or US$9.98m). Minor Risk Share price has been volatile over the past 3 months (7.0% average weekly change). Reported Earnings • Apr 11
First quarter 2024 earnings released: US$0.084 loss per share (vs US$0.069 profit in 1Q 2023) First quarter 2024 results: US$0.084 loss per share (down from US$0.069 profit in 1Q 2023). Revenue: US$5.72m (down 28% from 1Q 2023). Net loss: US$424.3k (down 224% from profit in 1Q 2023). Announcement • Mar 17
Art's-Way Manufacturing Co., Inc., Annual General Meeting, Apr 23, 2024 Art's-Way Manufacturing Co., Inc., Annual General Meeting, Apr 23, 2024, at 09:00 Central Daylight. Location: 5556 Highway 9, Armstrong, Iowa, 50514-0288 Armstrong Iowa United States Agenda: To consider and vote upon the election of five nominees to the Company’s Board of Directors, to serve until the next annual meeting of stockholders and until such time as their successors are elected and qualified, or until their earlier resignation or removal; to consider and vote upon the ratification of the appointment of Eide Bailly LLP as the Company’s independent registered public accounting firm for the fiscal year ending November 30, 2024; and to consider and vote upon, on a non-binding, advisory basis, named executive officer compensation. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €2.06, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 14x in the Machinery industry in Germany. Total returns to shareholders of 11% over the past year. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: US$0.15 (vs US$0.021 in FY 2022) Full year 2023 results: EPS: US$0.15 (up from US$0.021 in FY 2022). Revenue: US$30.3m (up 6.6% from FY 2022). Net income: US$762.8k (up US$665.0k from FY 2022). Profit margin: 2.5% (up from 0.3% in FY 2022). The increase in margin was driven by higher revenue. New Risk • Feb 10
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.15m (US$9.87m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Market cap is less than US$10m (€9.15m market cap, or US$9.87m). Minor Risk Shareholders have been diluted in the past year (2.7% increase in shares outstanding). New Risk • Nov 19
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.05m (US$9.87m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Market cap is less than US$10m (€9.05m market cap, or US$9.87m). Minor Risk Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Reported Earnings • Oct 15
Third quarter 2023 earnings released: EPS: US$0.048 (vs US$0.051 in 3Q 2022) Third quarter 2023 results: EPS: US$0.048. Revenue: US$8.12m (flat on 3Q 2022). Net income: US$240.9k (up 1.3% from 3Q 2022). Profit margin: 3.0% (in line with 3Q 2022). Announcement • Jun 08
Art's Way Manufacturing Co., Inc. Intends to Discontinue Operations of its Tools Segment Art's Way Manufacturing Co., Inc. announced that it intends to discontinue the operations of its Tools segment in the third quarter of the fiscal year 2023. Operations of the Tools segment are under Ohio Metal Working Products/Art's Way Inc. dba American Carbide Tool, a wholly owned subsidiary of the Company, and specializes in the manufacturing of standard single point brazed carbide tipped tools as well as PCD (polycrystalline diamond) and CBN (cubic boron nitride) inserts and OEM tools. The intended action is part of the Company's ongoing focus of efforts and resources on the business segments that have historically been more profitable and that are expected to present greater long-term stockholder returns. The Company plans to fulfill its current backlog commitments to customers and subsequently pursue an orderly sale of the assets associated with the Tools segment, including real estate, equipment and inventory. Proceeds from the liquidation of ACT assets will be used for the retirement of debt and to make operational improvements in the Agricultural Products segment. The Company anticipates incurring charges associated with this divestiture until the process is complete, likely in the fiscal year ending November 30, 2023. The union representative has been notified of the expected closure, which will affect approximately 15 employees. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 49% After last week's 49% share price gain to €2.62, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 17x in the Machinery industry in Germany. 
